State Life Shad Abad Assurance Plan. On completion of term of policy, sum insured plus bonuses attached to the policy are payable.
State Life Shad Abad Assurance Plan
Minimum Age: 20 years
Maximum Age: 60 years
Age (Maximum) on Maturity: 70 years
However, on death during the policy term, the death benefit consists of double of sum insured with accrued bonuses. Incase of death due to accident, the death benefit consists of four times the sum insured plus bonuses. The coverage can be further widened by attaching supplementary covers with the policy.
This plan meets the requirements of those who appreciate the basic savings purpose of endowment assurance but also like some additional cover to protect loved ones in case they die, Allah forbid, before maturity.